What to watch on the U.S. economy on Friday

The U.S. trade deficit with other nations is expected to fall more than 6% in December to about $45.5. billion, according to economists surveyed by MarketWatch. The Commerce Department reports the trade figures at 8:30 a.m. Eastern. The deficit, which totaled $48.7 billion in November, probably fell in the last month of the year because of weaker imports.

U.S. exports were also probably weak, though, because of the recession in Europe and slowdown in much of Asia. Those are the top foreign markets for American-made goods and services. Soft exports help explain lackluster growth in the U.S. manufacturing sector over the past year.

Data on wholesale inventories is due at 10 a.m., after November’s report showed a gain of 0.6%.

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